Biden and Democrats set new record for inflation

 National Review:

The producer price index jumped 9.6 percent in November compared to the same month last year, the highest year-over-year increase since record-keeping began in 2010.

The PPI increased by 0.8 percent during the month of November 2021.

Prices still climbed 6.9 percent when excluding food and energy costs, according to the Bureau of Labor Statistics. The PPI tracks changes in the sale price of domestically produced goods, and is a key gauge of inflation.

Meanwhile, consumer prices rose 6.2 percent in October compared with the previous year, the highest increase in over 30 years.

The Biden administration initially claimed that rising inflation would likely be “transitory” while the global economy recovers from shocks induced by the coronavirus pandemic. However, Federal Reserve chairman Jerome Powell told lawmakers in November that the word “transitory” should no longer be used to describe current inflation.
...

While the rest of the world suffered from the same pandemic they did not have the same inflation which was caused by Biden and the Democrats massive spending binge which they continue to push.  Note that the 6.9  excludes the increased cost of food and fuel the two most common purchases by consumers.  The inflation of those commodities have been exorbitant.  Fuel prices are up over 55% from a year ago and those costs impact all the items ion the supply chain which is still bogged down.  Food prices are up over 29% on many items such as beef.  A trip to the grocery store has become very expensive and it something that cannot be avoided are postponed as easily.

See, also:

HOW BAD IS THE CURRENT INFLATION AND WHEN WILL IT ABATE?

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